Matchbook Acquires Betdaq as Exchange Closes on 21 October

Key Points

• Matchbook has bought up the Betdaq name, domains and all, but customer accounts are staying put. So, if you want to jump ship to Matchbook, you’ll need to open a whole new account.
• Betdaq stops trading on 21 October, and any long-term bets that got matched before 14 October are going to be cancelled out.
• The deal takes out the big 26-year player in the exchange betting business, and it happens just as there’s renewed interest in the prediction markets, and how those markets are priced.

Matchbook Takes Over the Betdaq Name, But Not the Customers

Matchbook has acquired the Betdaq brand, but don’t expect any of the existing customers to come along with it. The deal was signed off on 14 October for an amount that went unannounced. It marks the end of a 26-year run for the exchange founded by Irish financier Dermot Desmond way back in 2000.

What Matchbook Actually Got its Hands on?

The official Betdaq wind-down FAQ breaks it down like this, Matchbook, trading as Triplebet Limited, is buying up the Betdaq name and domains, but the customer database is staying right where it is. So, if you want to switch over to Matchbook, you’ll need to sign up for a new account, and also pass their verification checks.

Racing Post adds a bit more to that story. They report that the deal is thought to include Racecourse Data Technologies, a company that supplies kit and software to bookies on the high street. Neither company has gone public with a full rundown of what exactly is included in this deal.

The exchange itself is staying with Exchange Platform Solutions (EPS), who are still holding on to the Betdaq operating licences for Britain, Ireland and Alderney. EPS is in charge of the wind-down, and Matchbook might relaunch the Betdaq name under its own licence down the line.

That split-up explains why Matchbook is saying that one big pool is the way to go, offering up tighter spreads, bigger fills and better prices. But that pool is only going to get bigger if the actual customers follow along.

The Closure Timetable That You Just Can’t Ignore

Betdaq stopped taking new registrations and deposits on 14 October, and customers got an email about it the same day. Casino games, virtuals, the sportsbook and multiple products are all being taken offline during the wind-down.

The exchange markets are staying open right up until 21 October, but after that, API users and trading-tool customers will find that there are no active markets.

The rules for any open bets depend on when you placed that bet, and when the event actually finishes, so bear with me here:

• Any bets that can settle before 21 October will all work out as normal.
• If you placed a bet before 14 October that’s still open, but settles between 21 October and 30 November, you’ll still get paid out, no problem.
• If you placed a bet before 14 October that’s still open, but doesn’t settle until after 30 November, then that bet is getting cancelled out, you get your money back and no commission is taken.
• Any bets placed from 14 October onwards will be cancelled out.
• Customers need to cancel any unmatched bets they have, and any unmatched bets on later markets will get returned once those markets are cancelled out.

Punters who’ve got ante-post prices on next spring’s festivals had better check their accounts, those bets are right in the void window.

Withdrawals are still available until 4 November.

Racecourse Bookmakers Get the Rudest Awakening

Whereas bookmakers on racecourses used Betdaq as a tool in their trade rather than simply a website, on-course layers could easily hedge liabilities from Racecourse Data Technologies systems directly onto the Betdaq exchange.

Addressing the United Council of Racecourse Bookmakers in a message published via social media, McDonagh recognised their worries regarding trading and hedging. He assured that he would move fast to Matchbook “with minimum intrusion and a personal service for those that wish to join us.”

At the racecourse, hedging problems represent a crucial issue. They determine if a bookmaker should lay a popular bet on a heavy favourite.

26 Years of Sales and Comebacks

History of Betdaq is seldom smooth. The exchange was acquired by Ladbrokes for €30 million in 2013 in a deal which made Desmond a Ladbrokes shareholder.

After that, the exchange went through another transition to GVC, now Entain, within the Ladbrokes Coral merger. Finally, in November 2021, Entain sold Betdaq back to Desmond for an undisclosed sum. By that time, the exchange had managed to reduce its commission to a flat 2% as it pursued Betfair.

Founded in 2004, Matchbook grew more gradually. In 2024, the exchange entered a partnership with easyGroup for easyBet, the exchange platform owned by the conglomerate which also owns easyJet. In addition, in 2025 it started to work with ADI PredictStreet, the official prediction market provider for the 2026 World Cup.

Why Exchange Pricing Is Back in Fashion?

McDonagh attributed his decision to a broader resurgence of peer-to-peer pricing around the world, and figures for the US support him. Kalshi, Polymarket and Polymarket US in June reached $44.8 billion in combined volume, according to The Block’s calculations. That is 75% higher than the $25.66 billion in May, and The Block attributes the jump to World Cup bets.

In Britain, these products are regulated under the gambling legislation. The Gambling Commission states that “at this point, the available information suggests that such products fall within the regulatory scope as betting intermediaries,” and stresses the importance of evaluating each case individually. Thus, the exchange license might suit but is not guaranteed.

As for the Matchbook, it seems to have taken this approach. In December 2025, according to Bloomberg, the exchange plans to enter the UK market in January as a test run before the US one.

What Happens Next?

Three key dates now frame the story. Trading stops on 21 October. Login access and withdrawal rights terminate on 4 November. The closure notice becomes effective from 5 November.

Once the liquidation process at EPS is completed, Matchbook has nothing to stand in its way in using the Betdaq brand name. Any new registrations would join Triplebet instead of EPS.

The proof of success lies ahead in sign-up figures for Matchbook after 4 November showing how many Betdaq clients changed their mind.

Expert Analysis: A Brilliant Acquisition Story With an Additional Dose Of Generosity

Our impression is that Matchbook made a brilliant and inexpensive acquisition. We are also convinced that the “one deeper pool” statement promises more than there is in reality today.

The logic is clear. Liquidity of an exchange depends on active clients, not on the popular logo. Matchbook got the logo and left the choice for Betdaq clients whether to join them or not. They will change. Others could stay loyal to Betfair, the market leader which Betdaq struggled to beat for 26 years.

To call this a merger of liquidity is, in our opinion, a bit too much of marketing. A more accurate description would be the managed closure with a serious invitation to move.

Voided ante-post bets confirm this point. Clients get their money back, but they lose the early odds that they worked hard to obtain. And on an exchange such odds make sense only before placing a bet weeks or months ahead.

There is a strategic sense behind this acquisition. Eliminating a competitor brand brings together the challenger part of the market under one strong competitor for Betfair. The inclusion of Racecourse Data Technologies, if confirmed, would give Matchbook an additional channel for hedging funds from on-course betting.

The story of Betdaq itself shows what should have been avoided. Big investments, two changes of ownership and reduced commission did not help Betdaq to close the liquidity gap with Betfair. And if Matchbook manages to convert the Betdaq name into active accounts before Christmas, it will indeed be a brilliant move. If not – the only loser will be Britain, as one exchange will disappear.